There are over 37,400 accounting businesses in Australia, according to IBIS World. The majority are small to medium enterprises (SMEs). Yet, despite building a sector that brings in $27 billion in revenue per annum, accountants don’t get enough credit for their entrepreneurialism and business acumen.

Each February, Australia Day sees the summer break come to an end and with school recommencing, Accountants that have been considering the year ahead start calling my office. It is by far my busiest month with enquiry levels reaching their peak.

Accounting firms, known for their meticulous number-crunching skills, often find themselves embroiled in complex staffing issues when it comes to mergers and acquisitions.

As the year comes to an end, I thought this December Issue of The Deal could cover a recap of the year’s transactions and tie the summary in with answering a question recently put to me, “why do people sell their accounting firm?”

Malcolm had been working in his firm for over 20 years and business had plateaued. He wanted to expand but didn’t have the time, capacity, or resources required for it to reach its full potential.

A spate of mergers and acquisitions in the accounting industry shows the dynamics around consolidation have changed dramatically since the pandemic.

A spate of mergers and acquisitions in the accounting industry shows the dynamics around consolidation have changed dramatically since the pandemic and technology has become a wildcard with unknown effects, according to one expert.

In the dynamic world of business, growth strategies play a defining role in achieving long-term success. A model student of this philosophy, Carbon Group is an innovative accounting and business services firm that regularly gains attention each time they strategically acquire another accounting firm.

Tamara built TC & Co Consulting from the ground up – providing holistic outsourced finance solutions to a wide range of businesses in the hospitality and allied health space. Having grown the team, expanded service offerings and rebranded in just eight years, Tamara began thinking about what the next step for the business should be.

Last month, I was fortunate enough to be invited to speak with the CPAs Sunshine Coast discussion group on the topic of Accounting Practice M&A.

Partner at KPMG in Transaction Services not only understands the challenges of professional life as a Chartered Accountant and practitioner herself but has spent nearly 20 years advising vendors and acquirers in professional services-related transactions.

I've been in the AUS accounting and tax space for over 25 years and I'm yet to see the industry really grab a hold of the wealth piece properly. I honestly believe that the majority of firms are better off having a straight referral relationship with a true Financial Planning expert, like Nick.